What Type of Political Union Is Mostly Based on Economic

question 6

Multiple Choice

What type of political union is mostly based on economic history and a sense of tradition?

• A) conglomerate
• B) community
• C) commonwealth
• D) proprietary colony
• E) trade association

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Definitions:

Marginal Revenue

The surplus revenue collected from the sale of an extra unit of a good or service.

Demand Schedule

A table that lists the quantity of a good that consumers are willing and able to purchase at various prices over a specified period of time.

Marginal Revenue

The added earnings garnered from the sale of one more unit of a product or service.

Market Demand

The overall volume of a good or service that consumers in a market are ready and capable of buying across a range of prices.